APAC to Dominate Medical Tourism Market until 2025
Growing compliance on
international quality standards and availability of the latest medical
technologies to drive global medical tourism market
According
to TechSci Research report, “Global Medical
tourism Market, By Treatment Type (Cardiovascular Treatment, Orthopedic
Treatment, Neurological Treatment, Cancer Treatment, Fertility Treatment,
Dental Treatment, Cosmetic Treatment, Organ Transplant, Neuro & Spinal
Surgery, ENT Treatment, Others), By Service (Medical VISA, Appointment
Fixation, Treatment/Check-up Packages, Others), By Region, Competition,
Forecast & Opportunities, 2025”, global
medical tourism market is expected to witness robust growth rate during the forecast
period. Absence of healthcare insurance in local markets is one of the major factors accounting
for the growth of global medical tourism market. Moreover, growing
requirement for procedures that are not covered by insurance such as fertility
treatment, cosmetic surgery, gender reassignment surgeries and dental
reconstruction is expected to bode well for the growth of global medical
tourism market through the forecast period. In addition to this, inadequate
insurance benefits available in the travelers’ home country, is positively
influencing the growth of global medical tourism market. Also, wider hospital
networks under insurance coverage for cashless transactions, is making headway
for the growth of global medical tourism market. Along with this, advertising
and marketing of the medical tourism is positively contributing to the market
growth across the globe. However, there are some factors that might act as
major impediments to the growth of global medical tourism market through 2025 such
as lengthy partial reimbursement by payers and difficulties associated with
travel, language barriers, availability of documentation, and VISA approval
issues and others.
Browse XX market data Tables and XX Figures spread through XXX Pages and an in-depth TOC on " Global Medical tourism Market "
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Global
medical tourism market can be segmented based on treatment type, service, company,
and region. Considering the service, the market is fragmented into medical VISA,
appointment fixation, treatment/check-up packages and others. Here, the medical
VISA segment dominated the global medical tourism market in terms of largest
market share until 2019 and is further anticipated to maintain its dominance
during the forecast period as well, which can be accredited to the ability to pay
travel, medical treatment and accommodation expenses in emerging medical
tourism destinations. In terms of treatment type, the market is categorized
into cardiovascular treatment, orthopedic treatment, neurological treatment,
cancer treatment, fertility treatment, dental treatment, cosmetic treatment,
organ transplant, neuro & spinal surgery, ENT treatment and others. Out of these,
the cardiovascular surgery segment is estimated to register high growth in the
next five years, on account of increasing prevalence of coronary artery related
diseases.
Johns Hopkins Hospital, Mayo Clinic,
Asian Heart Institute, Medretreat, NTT Medical Center Tokyo, Healthbase, Apollo
Hospitals Enterprise Limited, Axiom Health Solutions, Canadian Healthcare
Internationals, KPJ Healthcare Behard, Klinikum Medical Link, Euromedical
Tours, Wooridul Spine Hospital, BB Health Solution, Cosmedic Travel, Mount
Elizabeth Medical Center, Sunway Medical Center, Hospital Israelita Albert
Einstein, are among others are the leading players operating in
global medical tourism market. The players are adopting several growth
strategies to enhance the market scenario of medical tourism. Other competitive
strategies include product launches; mergers & acquisitions; agreements,
partnerships, and collaborations; and expansions to diversify their product
portfolio in order to strengthen their market position.
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“Asia-Pacific is forecast to dominate the global medical tourism market during
the next five years on account of increasing preference of medical tourists
towards developing countries such as Thailand, India, Malaysia owing to
availability of advanced medical treatments at significantly lower cost when compared
to developed regions. Furthermore, presence of multi-specialty hospitals that
provide technologically advanced therapies, is further anticipated to boost the
market growth for medical tourism in region over the coming years.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Medical Tourism Market, By Treatment Type
(Cardiovascular Treatment, Orthopedic Treatment, Neurological Treatment, Cancer
Treatment, Fertility Treatment, Dental Treatment, Cosmetic Treatment, Organ
Transplant, Neuro & Spinal Surgery, ENT Treatment, Others), By Service
(Medical VISA, Appointment Fixation, Treatment/Check-up Packages, Others), By
Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global
medical tourism market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in global medical
tourism market.
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